High asset divorces may lead to large settlements

On behalf of Law Office of Ann A. Thomson, A Professional Law Corporation posted on Friday, June 21, 2013.

Many high asset divorces in California and across the nation result in large divorce settlements. There are a few high-profile divorces that resulted in extremely large settlement payouts. Rupert Murdoch, the News Corp CEO, and his wife have reportedly filed for divorce, and this could lead to a large settlement for his soon-to-be ex-wife. The divorce will mark the end of Rupert Murdoch’s third marriage.

The divorce between Tiger Woods and his ex-wife in 2010 resulted in a settlement of $110 million. Arnold Schwarzenegger’s highly publicized divorce from Maria Shriver was settled for an amount between $250 and $375 million. Mel Gibson’s divorce led to his ex-wife walking away with half of his $850 million worth.

Some of these high-profile divorces have even larger payouts. When Alec Wildenstein divorced his wife, he had to part with $2.5 billion. She also received an alimony payment of $100 million every year for 13 years. After Steve Wynn, the owner of Wynn Resorts, divorced his wife, the settlement was made in company shares, which reportedly was in excess of $741 million in value. Bernard Ecclestone’s divorce ended in a $1.2 billion settlement to his ex-wife.

A high asset divorce can result in a large settlement if both parties have not agreed prior to marriage on a prenuptial agreement. Prenuptial agreements can be instrumental in protecting the assets of both spouses and allow spouses to decide on an equitable distribution of assets before they get married. With the aid of a divorce attorney, a prenuptial agreement could be completed very quickly. A divorce lawyer may be able to assist those currently going through a divorce propose and defend a fair settlement.

Source: NBC Los Angeles, “The Most Expensive Divorces of All Time“, An Phung, June 14, 2013

From offices in Seal Beach, the Law Office of Ann A. Thomson serves clients throughout Southern California in communities such as Seal Beach, Santa Ana, Brea, Yorba Linda, Fullerton, Corona Del Mar, Costa Mesa, Newport Beach, Irvine, Laguna Beach, Dana Point, Mission Viejo, San Clemente, San Juan Capistrano, Anaheim, Fountain Valley, Garden Grove, Long Beach, Huntington Beach, Norwalk, Torrance, Rancho Palos Verdes and Los Angeles.
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